Wall Observer BTC/USD - Bitcoin price movement tracking & discussion

[dragonvslinux]

in 6 hours and 10 minutes (4:00 pm london time) the futures will expire and bitcoin will start pumping. quote me

I wouldn't be surprised if we get a bounce. But this dip is not a bitcoin dip, everymarket out there is dipping, this is a global thing.

Why is S&P currently up today and breaking above above recent accumulation/distribution zone then? Maybe this is just BTC futures related as vroom suggests, and nothing to do with new covid variant.

Here's the S&P500 1hour futures chart, the S&P500 itself is not open price has fallen




Your chart appears to be last close.

Some more futures

Oh fair, my bad. I hadn't noticed that market wasn't open and up to date. I see the drop now! +1

[OutOfMemory]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

You forgot the rusty pipes and all...

Other than that, the only thing you can do is accept what you can't change.

[bct_ail]

Nha, countries tightens borders and suspending flights to and from South-Africa and cosing border for travelers.

Since when does Bitcoin care about closed borders?

[naim027]

Fuck China
Fuck Lockdowns
And Fuck Joe Biden

Fuck Biden

[ChartBuddy]

Explanation

[somac.]

Coins are being moved to the exchanges today. Still down a lot this week but, 12.5k.



https://www.viewbase.com/coin/bitcoin

[goldkingcoiner]

https://twitter.com/noComply1984/status/1464153062419931136


This is it!

Edit:

The new variant scare is what is driving the dump. Going by the last corona dump, I would say this one will be a short term flash crash also.

[dragonvslinux]

Price currently at the 0.618 fib retracement level from Summer low to new ATH. Don't be surprised to see a "coincidental" bounce from here from "the middle of nowhere".



Currently not ruling out $50K-53K support being tested, nor the 200 Day MA around $46K, that also line up with the 50 Week MA support trend-line, but it's also not necessary.
For reference sake, the 0.618 retracement level is considered the "golden buy zone" based on expected retracement level (correction) from bullish rallies.
Naturally, closing a Daily candle below this level would likely confirm further downside towards stronger support, but the day is currently far from over...

[somac.]

Price currently at the 0.618 fib retracement level from Summer low to new ATH. Don't be surprised to see a "coincidental" bounce from here from "the middle of nowhere".



Currently not ruling out $50K-53K support being tested, nor the 200 Day MA around $46K, that also line up with the 50 Week MA support trend-line, but it's also not necessary.
For reference sake, the 0.618 retracement level is considered the "golden buy zone" based on expected retracement level (correction) from bullish rallies.
Naturally, closing a Daily candle below this level would likely confirm further downside towards stronger support, but the day is currently far from over...

This drop just seems silly to me. Market players should be seeing this for what it is either a big buy because printers are going to go brrr again, or this covid mutation is like the last 10,000 and is meaningless. My thoughts are that the upcoming US trading hours will see things this way. The technical picture you paint seems promising and the on-chain is still good (or was yesterday at least). Though according to link above that I posted there are now 4k coins that have shifted to the exchanges in the last 1 day.

[ChartBuddy]

Explanation

[Farmer Bill]

Good morning everyone. (afternoon, night depending)

Reaching for coffee and acetaminophen.

Black Friday sale now on. Red Candle Deals all day, must end 4pm UTC.

BillyNoCoiner wait no longer now is your chance.

I've got the huge sum of $390 sitting at the Exchange, might as well buy some MyNeighbourAlice.

Just joking, satoshis for me.

 

[BitcoinBunny]

Fuck it.

Bought some more.

[El duderino_]

That sell-off..

Meanwhile, coin supply on exchanges are dropping lower.

Going to the gym for a 2-hour workout.

Been there done that for today

2 WoD’s at the crossfit

10-11 WoD

Hour between stretching

12.15 -13.15 WoD 2 (cardio one)

[ChartBuddy]

Explanation

[Nalien]

Good morning everyone. I expect price will drop to $50k then new ATH.

[shahzadafzal]

You can do it bitcoin!


I created this meme dedicated to WO.

[rdbase]

Good morning everyone. I expect price will drop to $50k then new ATH.

It will.
Today CME Futures expires and it is the end of the month so it always does this.
Expect a rise back to where we were by the end of next week.

[Torque]

How convenient for the Fed that a new covid variant "suddenly appears" right before the month they talked about tightening?  

Money printer will never not go brrr. They just need an excuse for the public.

[somac.]

How convenient for the Fed that a new covid variant "suddenly appears" right before the month they talked about tightening?  

Money printer will never not go brrr. They just need an excuse for the public.

Yep, of the 100 variants over the last few months, they decided to use this one for their media attack dogs. They know they can't taper, infact, they know that they must keep increasing the brrrr. Just needed that excuse to save face.

[ChartBuddy]

Explanation